Climate Change Data

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Product Safety and Sustainability
• Employee Wellbeing
• Stakeholder Engagement
• Human Rights
• Environmental Protection
• Policy Advocacy
• Inclusive Growth
• Customer Value

Environmental Achievements

• Adoption of eco-friendly refrigerants ahead of industry standards.
• Inverter technology embedded across chillers, VRFs, and wall-mounted ACs for energy efficiency.
• Wada Plant certified as a Gold-Rated Green Building by the Indian Green Building Council.
• Zero discharge basis for all manufacturing facilities.

Social Achievements

• Vocational training in AC&R/MEP services for school dropouts.
• Installation of water purification systems and sanitation facilities in schools.
• Support for Dalit entrepreneurs as vendors and channel partners.
• Commitment to augmenting female employees to 15% by FY19.

Governance Achievements

• Implementation of Enterprise Risk Management, Internal Audit, and Whistle Blower Policy frameworks.
• Robust Code of Conduct policy applicable to directors, employees, and business partners.
• Annual review of BR initiatives by the CSR Committee.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Over 60% of business associates participate in BR initiatives.
• Encourages suppliers to adhere to sustainable business practices.
• Managerial and technical assistance provided to suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Certifications: ISO 9001:2015 (Air Conditioning & Refrigeration Services)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Energy-efficient products with eco-friendly refrigerants.

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Business Ethics
• Products Lifecycle Sustainability
• Employees’ Well-Being
• Stakeholder Engagement
• Human Rights Promotion
• Environmental Protection
• Inclusive Growth
• Customer Value

Environmental Achievements

• Achieved 102.5% of e-waste collection and channelisation against the set target of EPR for the financial year 2020-21.
• Phased out refrigerants such as R-22 and R-134A, and replaced them with lower Global Warming Point environmentally friendly refrigerants such as R-32 and R410A.
• Wada factory certified as a Gold-rated Green Building by the Indian Green Building Council.
• Installation of a 1MW solar power plant at Wada manufacturing facility and another 100kW one at Dadra.

Social Achievements

• Reduced Lost Time Injury Frequency Rate (LTIFR) per one million-person hours worked, to 0.0270 as on March 31, 2021, from 0.0694 as on March 31, 2020.
• Augmented the strength of its female employees to approximately 9.2% across levels and roles in the Management cadre during FY21.
• Implemented various COVID-appropriate measures for employee safety and well-being.
• Skill development in the areas of air conditioning and refrigeration as well as mechanical, electrical and plumbing services

Governance Achievements

• Bestowed with the ‘Golden Peacock Award for Excellence in Corporate Governance’ for the second consecutive time.
• Implemented Enterprise Risk Management, Internal Audit and Whistle Blower Policies.
• Annual review of BR initiatives by the CSR Committee and quarterly review of governance, risk and compliance by the audit committee.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting supplier audits and physical visits.
• Two complaints alleging sexual harassment were filed.

Mitigation Strategies

• Continued business with already on-board MSME vendors.
• Thoroughly investigated and resolved sexual harassment complaints as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

Supply Chain Management

Responsible Procurement

• Promoting BR initiatives throughout its value chain
• Urging vendors and channel partners to adhere to sustainable and ethical business practices
• Actively supporting development of a small and medium supplier base

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SEBI Business Responsibility Report (BRR) framework

Certifications: ISO 9001:2015, ISO 45001:2018

Sustainable Products & Innovation

• Green Freezers
• Water purifiers with High Recovery Reverse Osmosis

Awards & Recognition

• Golden Peacock Award for Excellence in Corporate Governance

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Commissioned an additional 2.1 MW rooftop solar plant in addition to 1 MW solar plant at Wada Plant. Annualised generation of 27.75 lakhs of energy units through 3.1 MW rooftop solar plant resulted in reduction of CO2 emission by 1,389 tonnes.
• Installed 4.69 MWp solar power in its manufacturing plants and offices with 17% renewable energy.
• Three of the Company’s establishments are green-certified buildings - Thane Office and Wada Plant are Platinum-certified, and Sri City Plant of Blue Star Climatech is Gold- certified.

Social Achievements

• Spent a total of ` 4.70 crores during the year on CSR, out of which ` 1.29 crores was contributed to Blue Star Foundation.
• Supported a total of 227 scholars through ‘Mohan T Advani Centennial Scholarship’
• Trained 80 youth in three trades, namely, bar-bending and formwork carpentry; cooking and baking; and backhoe loader operator work over four months through the CII Skills Training Centre, Chhindwara.

Governance Achievements

• Received ‘Certificate of Appreciation’ at 23rd ICSI National Awards for Excellence in Corporate Governance for promoting the culture of good governance.
• Implemented an Integrated Vigil Mechanism framework and has been ahead of the curve in its processes related to Enterprise Risk Management, Related Party Transactions, and Internal Financial Controls.
• Adopted a robust Governance, Risk and Compliance Framework that enables a seamless integration of processes and components around the Company’s governance, risk and compliance objectives.

Climate Goals & Targets

Environmental Challenges

• Volatile macroeconomic environment impacting capital expenditure investment commitments by customers.
• Seasonality of Unitary Products business vulnerable to unforeseen weather patterns.
• Sourcing risk due to key component vendors located in China and other countries.
• Competition from Indian and global players with potential predatory pricing practices.
• Profitability risk due to volatility in commodity prices, input costs, and credit defaults.

Mitigation Strategies

• Closely monitors macroeconomic indicators, explores opportunities in untapped segments, and focuses on profitability and scalability.
• Re-aligns procurement plans dynamically, reduces lead time for procurement, and diversifies product portfolio.
• Diversifies procurements from alternative and indigenous sources, identifies backward integration opportunities.
• Diversifies product categories, has tie-ups with ecommerce players, increases penetration in Tier 3, 4, 5 cities, and focuses on cost rationalisation.
• Implements policies and commercial guidelines for handling commodity price and input cost volatility, and employs due diligence to reduce credit default risk.

Supply Chain Management

Responsible Procurement

• Value sourcing partnerships, QCDDM philosophy

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Energy-efficient room ACs, VRFs, deep freezers, screw chillers
• Heat pump outdoor unit
• 3-phase inverter drive for compressors

Awards & Recognition

• India Design Mark
• Golden Peacock Award for Risk Management
• National Awards for Manufacturing Competitiveness
• CII TCM Cost Maturity Award
• Man of Appliances award
• Best Use of Real-Time Analytics Platform award
• MEP Contractor of the Year award
• RoSPA Health & Safety Awards
• CII IQ Excellence Practice Competition award
• Brandon Hall HCM Excellence Leadership Development Award